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Forex market reviews

29 August 2016

Media reviews

Fiona Chen

Fiona Chen

OPEC output-freeze deal unlikely as Iran aims to recover lost market share

Iran’s plan to keep boosting crude production until it regains its OPEC market share is dimming prospects of collective action by major producers to freeze output, according to Patrick Allman-Ward, chief executive officer of Dana Gas PJSC.

Market sessions

Gabriel Ojimadu

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Expected euro rise to 1.1242

Euro trades on Friday closed down. The euro crumbled from its 1.1341 maximum by 1.5 figures. The fall was by 135 degrees. Demand for the dollar rose after Janet Yellen announced that there had been an improvement in US economic conditions; lifting expectations of an increase in the US interest rate. Nothing was said about when this may happen. The rise in the rate will be gradual, taking new labour market and inflation data into account.
15 August 2016

Analyst Contest

Analyst Contest participant

Analyst Contest participant

AUD/JPY for week 15th August 2016 to 19th August 2016

If it is good news for the JPY it is possible that it will drop. Therefor the AUD/JPY will probably hit at least the first Resistance at 78.252. From there it could go all the way to the second resistance 79.001. For this week if the money drops the AUD/JPY can go long for a long time. On the other hand it can go short also.

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